1. The simple interest on a sum of money is $$\frac{16}{25}$$ of the principal. The number of years is equal to the rate of interest per annum. What is the rate (in percentage) of interest per annum?
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- By: anil on 05 May 2019 03.00 pmLet sum of money invested = Rs. $$100x$$ => Simple interest = $$frac{16}{25} imes100x=Rs.$$ $$64x$$ Let rate of interest = time period = $$x$$ => Simple interest = $$frac{P imes R imes T}{100}$$ => $$frac{100x imes x imes x}{100}=64x$$ => $$x^2=64$$ => $$x=sqrt{64}=8\%$$ => Ans - (C)
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